The Hanoitimes - The sanctions leave direct impact on North Korean economy shown through a sharp decline in exports last year. What are visions for the denuclearization after second no-deal summit? The failure of the second Trump-Kim summit in Hanoi suggests sanctions remain a big issue between the US and North Korea, foreign media quoted international experts as saying. The UN Security Council votes to adopt a resolution imposing sanctions against North Korea. Photo: Getty Images North Korean nuclear negotiator Kim Yong Chol told Secretary of State Mike Pompeo in May 2018 that Pyongyang’s shift away from weapons was “not a result of sanctions that have been imposed from outside.” But in July 2018, Seoul-based Bank of Korea estimated the North Korean economy had seen its biggest decline in two decades, with the country’s real annual gross domestic product (GDP) falling by 3.5% in 2017 while exports declined 37.2% in 2017 alone. … [Read more...] about How much do US-led sanctions hurt North Korea economy?
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Vietnam can help North Korea to integrate with the rest of the world thanks to its experience in transforming a hostile relationship with the U.S. into a comprehensive cooperation between the two countries, a forum heard on Thursday in Hanoi. Vietnam can share its 30 years of renovation experience (doi moi), said Pham Tien Van, former Vietnamese ambassador to South Korea and North Korea at the Korea-Mekong Peace Forum. Doi moi is a reform process that has allowed Vietnam to achieve great economic developments since 1986. Vietnam supports North Korea’s denuclearization process and reunion with South Korea through negotiations, Van added. North Korea used to prioritize military, defense and protectionism of the regime, but when the economy is on top of the list, Pyongyang has to deal with the nuclear issue to pave the way for international integration and development, Van said. In the future, North Korea must follow the path of reform and development, said Kim Jung-in, chair … [Read more...] about Vietnam can be North Korea’s model for int’l integration: former ambassador
The United States promised Friday that it would work to rebuild North Korea's sanctions-crippled economy if Kim Jong Un's regime agrees to surrender its nuclear arsenal. Secretary of State Mike Pompeo's vow came as senior U.S. officials expressed growing optimism ahead of the landmark June 12 summit between Kim and President Donald Trump. Pompeo, who held talks with Pyongyang's young leader over the weekend, even said "we have a pretty good understanding between our two countries about what the shared objectives are." He was speaking after talks with his South Korean opposite number Foreign Minister Kang Kyung-wha to coordinate Washington and Seoul's preparations for the historic encounter. Many observers have warned Kim's regime will try to drive a wedge between the allies as the summit approaches, playing Seoul's fear of war against Washington's nuclear concerns. But both Kang and Pompeo insisted that they agreed on the need for the "total, permanent and verifiable" denuclearization … [Read more...] about US vows to make North Korea rich if it gives up nukes
North Korea said on Saturday it would immediately suspend nuclear and missile tests, scrap its nuclear test site and instead pursue economic growth and peace, ahead of planned summits with South Korea and the United States. North Korean leader Kim Jong Un said his country no longer needed to conduct nuclear tests or intercontinental ballistic missile tests because it had completed its goal of developing the weapons, the state-run Korean Central News Agency (KCNA) said. Kim is scheduled to hold talks with South Korean President Moon Jae-in next week and with U.S. President Donald Trump in late May or early June. The pledge to halt the development of nuclear weapons, initiated by his grandfather, would mean a significant reversal for Kim, 34, who for years has celebrated such weapons as a pillar of his regime’s legitimacy and power. A testing freeze and commitment to close the test site alone would fall short of Washington’s demand that Pyongyang completely dismantle all its … [Read more...] about North Korea says will stop nuclear tests, scrap test site
Viet Nam News SEOUL — North Korea will carry out no more nuclear or intercontinental ballistic missile tests and will shut down its atomic test site, it said on Saturday in a move immediately welcomed by US President Donald Trump. Pyongyang’s declaration, long sought by Washington, will be seen as a crucial step in the fast diplomatic dance on and around the Korean peninsula. It comes less than a week before North Korea’s leader Kim Jong Un meets South Korean President Moon Jae-in for a summit in the Demilitarised Zone that divides the peninsula, ahead of a much-anticipated encounter with Trump himself. The North had developed its weapons in what he called a "great victory", and so "no nuclear test and intermediate-range and inter-continental ballistic rocket test-fire are necessary for the DPRK now". "The mission of the northern nuclear test ground has thus come to an end," he added at the gathering of the central committee of the Workers’ Party, according … [Read more...] about North Korea’s Kim promises no more nuclear or missile tests